Personal debt levels are high enough to merit the whole sector coming under the microscope of the UK's financial regulator, the head of the Financial Conduct Authority (FCA) has said.FCA chief executive Andrew Bailey said that the cap on payday lending had protected consumers.Now the whole ...

. The Bank of England has been warned against raising interest rates from as early as November, as a monthly Guardian analysis of the economy indicates pressure growing on households following the Brexit vote. ...

.... A year ago, it was more than three times the current rate. The spending power of British consumers is likely to come further under pressure from inflation, with the Bank of England forecasting the consumer price index (CPI) to peak above 3% in October. ...

. The Bank of England has issued its strongest warning yet about the UK’s ballooning consumer debt, saying Britain’s banks could incur £30bn of losses on their lending on credit cards, personal loans and for car finance if interest rates and unemployment rose sharply. ...

....Royal Bank of Scotland has postponed plans to introduce a cut-price credit card amid concerns about the £200bn of lending amassed by UK households. The bank, which is 70% owned by the taxpayer, has decided against launching a more competitive credit card at a time when the consumer credit market – personal loans, credit cards and car finance – is facing scrutiny from the Bank of England. ...

.... Neither option does the poorest any favours, but that appears to be the main dilemma for central bank policymakers. The US Federal Reserve and Bank of England think they can have it both ways. ...

.... This was a brief phenomenon, but it contributed to the electoral damage Wilson suffered. Today, the Organisation for Economic Cooperation and Development and the Bank of England still point to a dismal UK trading performance, and the OECD’s post-referendum forecasts show the economy being outpaced by our continental friends, with growth a miserable 1. ...

.... Are you ready for it? . The Bank of England is considering pushing up interest rates to reverse the rise in inflation, currently nudging 3 per cent and putting pressure on consumers as wages stagnate. ...

....Britain’s economy has slowed this year as the effect of a weaker pound pushed up inflation and weakened consumer demand. The Bank of England has nevertheless said it is likely to raise interest rates at its next meeting on 2 November in the expectation that full employment will raise wage rates and keep inflation above its 2% target next year. ...

....The prime minister’s speech has been billed as an attempt “to update on Brexit negotiations so far” and to “underline the government’s wish for a deep and special partnership with the European Union once the UK leaves the EU”. City firms have been instructed by the Bank of England to plan for all eventualities, including a “hard Brexit” where the UK leaves the EU without any transition arrangement. ...

....Shadow chancellor John McDonnell urged the government to change course on the economy to prevent a slump in investment. He also highlighted the OECD warning that a bubble in the housing market remained a threat to the UK’s financial stability, especially with an increase in interest rates by the Bank of England possible before the end of the year. ...

....Easton, a former chief executive of ChildLine, said 25% of young people believed their level of debt had got worse in the past year and 61% expect to be still in debt when they are aged 40. She warned that left young people with “little hope for the future”, especially as the Bank of England has hinted in recent days that it is likely to raise interest rates in the near future. ...